Donald Trump's Trump Media Continues To Lose Value; Has Now Lost a Third of Value After Surge

By Rick Martin First Posted: Apr 09, 2024 08:34 PM EDT

Donald Trump's Trump Media (DJT), which owns Truth Social, kept on losing value as its stock prices continued to fall despite Trump Supporters buying stocks to show support for the ex-POTUS. This latest fall in prices just lowered the stock value of the former president to around $2.8 billion on paper.

Despite an early surge that was reminiscent of the GameStop Meme stock surge when the stock was first introduced, financial analysts have predicted that the stock prices will all be crashing down after the surge. As it is currently turning out, they seem to be right.

The stock price for DJT, the ticker for Trump Media, went as high as $66 per share on March 27. Now, however, the DJT stock price has fallen to around $36 per share, with the stock losing approximately 36% of its value since it began publicly trading on March 22.

According to the Guardian, "the value of Trump's social media company now stands at where it was when Trump Media merged under a special-purpose acquisition company (Spac) deal with shell company DWAC earlier in March." This means that the stock price for DJT has lost all the gains it made after the merger and going public.

The stock prices for Trump Media began plunging after the company admitted in its filings that it had spent more than it had earned. However, DJT investors kept on investing as they saw this as a way to support the Trump Campaign even though they would likely lose money with this venture.

Despite many initially buying Trump Media stocks as a show of support for Donald Trump, many of the initial investors are already sharing their DHT shares as quickly as possible as they stand to lose money by investing in a business that has proven to be unprofitable.

Donald Trump Not Allowed To Sell Stock for Trump Media Yet

Meanwhile, the former president, who has already been found liable for fraud, still cannot legally sell his stocks for Trump Media as there is a six-month lockup period to prevent the former president from doing a "pump and dump" scheme and leaving his investors hanging and ultimately tank the stock price of DJT.

According to Barron's, Donald Trump has his hands all over the company's board of directors, including one of his sons and several former members of his administration. He could still get a waiver from them and he is still in line to receive 36 million earnout shares in the company.

Donald Trump Called Out for Blatant Racism by Jimmy Kimmel

Meanwhile, late-night talk show host Jimmy Kimmel roasted Donald Trump's claim that he raised $50 million during his fundraiser with billionaire donors last weekend. This was the same fundraiser where he reportedly promised billionaires that he would lower the tax rates for the ultra-wealthy, including himself.

The exact amount of the money he raised has not yet been verified, but the fundraiser also became notable for Trump complaining about the migrants who were coming into the country.

"At the fundraiser, he said he wants immigrants to come from 'nice' countries like Denmark and Switzerland and Norway," said Kimmel in his monologue. "Whenever Trump says 'nice,' he means 'white.'"

The immigrants coming in from the southern border are mostly from non-white countries in Latin America, with many trying to escape political strife and extreme poverty. Trump wants immigrants from white countries that are not experiencing any political strife or economic difficulties.

This article is owned by Latin Post.

Written by: Rick Martin

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